NZDUSD: Pending Head & Shoulders Pattern At Key Level

Watching the daily chart of NZDUSD we see that although the market is in an uptrend we have a great sell opportunity which may take a while to complete. A bearish divergence in MACD shows that the uptrend is losing steam and we may soon have a price reversal. If price continues it's way up, it will reach the upper parallel of a downsloping median line set at a level where we will have the completion of a head & shoulders pattern. We may watch for price action at that level or if you can afford a sl above the head of the pattern, just the sell at the parallel.

Have a nice trading week..!